HYDERABAD TUESDAY NOVEMBER 24, 2020 `7.00 PAGES 16 LATE CITY EDITION CONGRESS VETERAN TARUN GOGOI PASSES AWAY AT 84 The three-time chief minister of Assam was undergoing treatment for post-Covid complications in Guwahati TARUN GOGOI APRIL 1, 1936 NOVEMBER 23, 2020 ‘NO PROBLEM’ WAS HIS FAVOURITE ONE-LINER BROUGHT ULFA TO THE TALKS TABLE Gogoi, who saw himself among a tough breed of politicians who do not dither while making decisions, often told his team members that his guiding mantra in all that he did was: “no problem”. Explaining it in his memoir Turnaround, the Congress stalwart said if one “approaches the P7 negative in a positive manner, things automatically fall into place” ■ ■ As Assam’s chief minister for 15 years from 2001, Gogoi is widely credited for pulling the state from the edge of bankruptcy and putting it on the path of development The six-time MP will also be remembered for bringing various militant outfits, including the ULFA, to the negotiation table PM CALLS GOGOI A POPULAR LEADER AND A VETERAN ADMINISTRATOR CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI TS-bPASS or curfew pass? Chief Minister K Chandrasekhar Rao on Monday asked the people whether they wanted TS-bPASS or a curfew pass. Stating that if the divisive forces were elected, Hyderabad’s law and order would go for a toss, he asked voters whether they wanted a Hyderabad with “Telangana State Building Permission Approval and SelfCertification System (TS-bPASS) or a Hyderabad which issues curfew passes on a daily basis. CINEMA HALLS TO REOPEN IN TELANGANA; KCR ANNOUNCES SOPS FOR FILM INDUSTRY PAGE 4 A motorist transports a cutout of Chief Minister K Chandrasekhar Rao in Hyderabad on Monday | VINAY MADAPU EXPRESS READ KCR promises free drinking water ahead of GHMC polls V V B A L A K R I S H N A @ Hyderabad CLOSE to 97 per cent consumers in the GHMC area will get free drinking water and certain categories of consumers will get free power. These two major promises were among several others included in the TRS party’s manifesto for the Greater Hyderabad Municipal Corporation (GHMC) elections scheduled for December 1. Releasing the pink party’s election manifesto at Telangana Bhavan on Monday TRS su, premo and Chief Minister K Chandrasekhar Rao said that there will be no water charges, if the monthly consumption of drinking water is below 20,000 litres. There are 10 lakh consumers in the GHMC area and 97 per cent of them use less than 20,000 litres per month. All of them need not pay water cess from December, he said. “The poor and the middle class should make use of this facility but at the same time they should take enough care not to waste water,” the Chief Minister said, while adding that going forward, the free water supply facility would be extended in other corporations and municipalities in the State. Though the HMWS&SB would lose around `300 crore to `400 crore revenue due to the free water supply , the Chief Minister said that the State government would reimburse that amount to the power utility . CONTINUED ON P4 Kerala makes U-turn on police law T’Puram: Under fire from various corners, including national-level leaders, the CPM-led Kerala government said it would not enforce the controversial provisions in the Kerala Police Act amendment ordinance, signed by Governor Arif Mohammad Khan on Saturday | P5 Antony Blinken set to be Secretary of State Washington: US Presidentelect Joe Biden will name his trusted foreign policy advisor Antony Blinken, who had served as deputy secretary of state under Barack Obama, as his top diplomat on Tuesday. Analysts say Blinken will help calm America’s strained ties with allies | P9 RAJAN ROASTS RBI FOR CORPORATE BANK IDEA Former RBI governor, ex-deputy guv Viral Acharya are appalled at banking regulator’s plan to let borrowers become lenders EXPRESS NEWS SERVICE @ New Delhi FORMER Reserve Bank of India (RBI) governor Raghuram Rajan on Monday ripped apart the banking regulator’s latest proposal to allow large business houses to float banks, saying chances of misuse is very high because of ‘self-lending opportunities’. “Industrial houses need financing, and they can get it easily, with no questions asked, if they have an inhouse bank. The history of such connected lending is invariably disastrous — how can the bank make good loans when it is owned by the borrower?” he asked in a note written jointly with RBI’s former deputy governor Viral Acharya. The note, titled ‘Do we really need Indian corporations in banking’ and published on LinkedIn, warned that such a move will “further exacerbate the concentration of economic (and political) power in cer- Raghuram Rajan Viral Acharya Why now? Have we learnt something that allows us to override all the prior cautions on allowing industrial houses into banking? tain business houses”. RBI has till now been opposed to letting business houses run banks given India’s history of the 1950s and 1960s when a number of banks run by big industrial houses went under after a spate of connected loans were doled out. A major private-sector lender ICICI Bank is facing probe over loans given out to connected parties. RBI recently ordered the merger of the struggling private sector lender Lakshmi Vilas Bank with DBS Bank. Rajan and Acharya said the latest proposal by RBI gives undue advantage to large business houses that already have the initial capital that has to be put up. “Moreover, highly indebted and politically connected business houses will have the greatest incentive and ability to push for (banking) licences. That will increase the importance of money power yet more in our politics, and make us more likely to succumb to authoritarian cronyism,” they warned. The duo’s caution came on a day when S&P Global Ratings also termed RBI’s proposal “fraught with risk”. Non-perfor ming assets within the corporate sector stood at a high 13% as of March this year, S&P said in its report.
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